In today’s fast-changing world, businesses face many tough choices. Costs rise, customer needs shift, and competition grows. Companies can no longer rely on guesswork or old habits to stay ahead.
They need clear data, smart tools, and teamwork to guide their steps. This is where Finance and FP&A Strategy become essential. It helps companies stay steady, make smart choices, and plan for long-term success.
Kevin Fleming knows this well. He is the Chief Financial Officer at Elder, a leading live-in care company. For nearly six years, he has worked to shape the company’s strategy and guide its key decisions.
At Elder, he balances the needs of both caregivers and clients in a busy two-sided market. Kevin believes finance acts like a radar and rudder, helping a company spot risks and steer forward.
In this article, we will explore the key lessons Kevin shares. You will learn how Finance and FP&A Strategy helps turn data into smart actions, improve teamwork, and build long-term success.
How Finance and FP&A Strategy Drives Smarter Business Decisions
Many finance leaders start as accountants or auditors. Kevin Fleming began in audit roles in Northwest Ireland, but didn’t want to just report results. He wanted to help businesses grow. So, he moved into small companies where he ran full finance operations.
How Data Changed a Major Business Decision
At Domestic and General, leadership believed they ran an online-first business. The financial data showed high costs in offline areas. Cutting those seemed smart.
However, Kevin used Power BI to track the customer journey from start to end. The data revealed something surprising:
- Offline buyers spent 15–20% more.
- They bought twice as many extra services.
- Their renewal rate was 25% higher.
- They were better insured, which lowered claim risks.
Instead of cutting costs, the company invested more in its offline team. That shift helped the business grow. Later, it sold for about $800 million.
Keeping Elder Agile with Finance and FP&A Strategy
At Elder, Kevin built an FP&A system that helps move fast while staying on track. His team breaks down company goals into clear metrics. Each week, they meet to review customer and carer data. If something changes, they quickly adjust based on impact, cost, and retention.
They stay prepared for sudden changes, like shifts in supply or online algorithms. This setup helps Elder stay focused, react fast, and confidently grow.
How to Align Finance and FP&A Strategy for Better Business Decisions
A business works best when every team understands its role and how it connects to others. Without this, teams pull in different directions, and things fall apart.
Helping Teams Focus on Shared Goals
Each team controls its part. Marketing brings in leads. Sales converts those leads. The service team keeps customers happy. But it is not enough for each team to hit only its targets.
For example, marketing can hit a lead goal, but sales suffer if the leads are poor. Sales can hit a conversion goal, but the business loses money if the customers leave after a week.
To fix this, companies set a clear business equation:
- Bring in good leads.
- Convert them well.
- Keep them long enough to cover costs and make a profit.
Teams track their numbers and share ones like net movement and customer value. This keeps everyone working together.
How a Good Finance and FP&A Strategy Setup Helps
Weekly meetings and monthly reviews help teams check progress. They look at what worked, what failed, and what needs fixing.
This only works when FP&A has the right systems in place. Without that, teams spend too much time sorting data and lose focus on working together.
Why Storytelling Matters in Business
Numbers alone do not drive change. Good storytelling helps teams understand what the numbers mean and why they matter.
For example, showing marketing how lead quality affects long-term profit makes them care about more than just volume.
Here are three tips for better business storytelling:
- Step into others’ shoes. Know their challenges.
- Build strong, daily teamwork.
- Keep the flow clear. Share context, past lessons, and solutions.
When teams understand each other and share the same goals, they help the business grow stronger together.
How to Turn Forecasts into Action in Finance and FP&A Strategy
Forecasting means little if it does not lead to action. Teams need clear steps to bring plans to life.
Turning Forecasts into Action Plans
Always start with the main business strategy. Plans often change yearly, so first, match that shift. Then look at the teams involved.
For example:
- Marketing must deliver a set number of leads within budget.
- Sales must meet the right conversion rates.
- Service must focus on keeping customers longer.
Finance helps each team understand its role and why it matters. Once all teams know their targets, finance joins the pieces to build the full plan. After review, the budget is split back to each team for clear ownership.
Simple dashboards help track progress. They should highlight the key numbers without adding extra noise or confusion.
Keeping Budgets Flexible with Finance and FP&A Strategy
Teams meet monthly to review results and adjust where needed. They fix over- or under-performance by making small changes. Every quarter, they run a deeper review and update the next forecast.
This routine helps avoid surprises. It also keeps the company looking 18 months ahead, making planning smooth and steady.
The Role of Strong Finance Leadership
Businesses should bring in finance leaders before major funding or exits. It takes time to build a strong team and set up solid systems. Waiting too long leaves little room to prepare.
A good finance team is not just a cost. It acts as a profit center. It pushes for better profit margins, smarter spending, and stronger capital use.
Finance should ask, “What value did we bring each year?” As long as they deliver more than they cost, finance is key to business success.
How Using Finance and FP&A Strategy Boosts Business Value
Starting early helps companies improve their value when planning for an exit or sale. Preparing three years ahead gives the business time to show real progress, not just plans.
Moreover, when you give the finance team time, they can build the right systems. This includes improving processes, shaping the strategy, and fixing weak spots. You get more than just reports and clear proof that the business works well.
How AI Helps Improve Customer Insights
AI adds huge value by looking closely at customer data. AI checks the full customer journey instead of relying only on exit surveys. It looks at messages, patterns, and moods to find what worked and what did not.
This helps companies spot problems early. It also helps predict which customers might leave soon. Teams can then act fast to fix things and keep those customers longer.
This approach works in many areas, not just customer service.
- In marketing, AI shows which leads are more likely to convert
- In staffing, AI can spot which employees might leave soon.
What Finance and FP&A Strategy Teams Need to Succeed
Finance teams need strong support and the right tools. More importantly, leaders must see them as a key part of the business. For those starting in finance, stay curious. Always ask questions, even when unsure.
Learn how business actions affect the numbers. Build solid skills, like earning a CIMA qualification. When you combine curiosity, insight, and teamwork, you help the business grow stronger every day.
Conclusion
A strong Finance and FP&A Strategy helps businesses make smart choices and stay on track. We learned that finance is not just about reports. It guides teams and shapes key actions. We saw how weekly tracking keeps the team focused.
They review key numbers, adjust plans, and stay ready for changes. This system helps avoid surprises and keeps the business steady. Moreover, good storytelling plays a key role. Finance teams must explain what the numbers mean and why they matter.
This helps all teams work together and aim for the same goals. We also learned that early planning builds real value. Preparing years in advance gives a company time to show steady results. This builds trust with buyers and investors.
Finance teams need the right tools and support to do their job well. Leaders must see them as a key part of the business, not just a cost.
Ultimately, a strong Finance and FP&A Strategy gives the business a clear path. It turns numbers into smart actions and helps every team confidently move forward.
FAQs
How does Finance and FP&A Strategy help small businesses grow?
It helps small businesses understand their cash, set clear goals, and avoid costly mistakes early on.
Can Finance and FP&A Strategy improve employee performance?
Yes, it helps teams know their targets and track progress, making each person’s work more focused and clear.
How does Finance and FP&A Strategy support product pricing?
It studies costs, market trends, and customer data to set fair prices that generate steady profit.
Why does Finance and FP&A Strategy matter during a business crisis?
It helps leaders see risks early, adjust spending, and make fast decisions to keep the business steady.
How can Finance and FP&A Strategy help reduce waste?
It shows where money or time gets lost and helps teams fix those areas before bigger losses happen.trust.
